Over the past years, a notable rise can be observed in Kaspa mining which has grown Kaspa’s mining popularity to surge significantly. With the rise in Kapsa’s graph, a significant rise can also be seen amongst the manufacturers releasing ASIC miners for mining Kaspa, which performs well, increasing the profitability rate by prioritizing the higher hash rate and low power consumption integration into their miners. People have been putting their money and resources into Kaspa mining because it is giving them better outcomes.
Therefore, let us evaluate in this blog how the Kaspa has been performing over time to understand how much has Kaspa risen from the past. Bitmain Antminer S19 Xp Hyd
Kaspa (a KHeavyHash employed algorithm) coin was established in November 2021. It has been observed widely that Kaspa has emerged as the quickest and most scalable cryptocurrency which offers quick confirmation of transactions. The Kaspa is also based on the GhostDAG protocol which is the same as that of what Bitcoin follows, with the added layers of security and flexibility that made Kaspa the most demanding and most mined cryptocurrency over time. Kaspa’s blockDAG structure is what distinguishes it from the rest of the cryptocurrencies because due to blockDAG structure, the coin allows for faster transaction times and better scalability than the conventional cryptocurrencies.
With the innovative blockDAG structure of the ledger, transactions transmitted to miners can be instantly incorporated. The proof-of-work consensus of Kaspa has become widely known to address all the scalability issues with Bitcoin and other traditional proof-of-work employed cryptocurrencies. This is what makes KAS multiple times faster than Bitcoin and with the possession of the same consensus mechanism, it has an added layer of security. Due to this Kaspa has surpassed Bitcoin, making Kaspa widely mined and acceptable in comparison to Bitcoin, which is a flagship of all cryptocurrencies itself.
Kaspa is a relatively new cryptocurrency in comparison to old conventional cryptocurrencies that have become more well-known recently. Miners may make more money as more people join the network and the value of KAS rises.
Kaspa has a BlockDAG structure, which enables blocks to be parallelized and provides faster transaction rates and scalability than most PoW coins, which are built on a linear blockchain.
Kaspa can process transactions and create blocks more quickly due to its BlockdAG than many other typical PoW-based blockchains, resulting in higher transaction rates. This is reflected in its capacity to process transactions even faster.
When compared to other PoW systems, which are often more energy-intensive, Kaspa is optimized for energy efficiency and lowers energy usage.
We are done with the basic information of Kaspa mining for a detailed understanding of the coin and its benefits, let us now analyze its profitability and performance in detail over the past few months.
Based on the stats given above, It can be observed that Kaspa miners are generating a good amount of profits each hour, each day, each week and each month. It reflects on the Kaspa’s performance concerning the ASIC miner used to mine it.
Due to the highly energy-efficient nature, robust KHeavyHash algorithm and blockDAG structure, Kaspa stands firm as the most mined and decentralized cryptocurrency. You must make the right choice of the Kaspa ASIC miner. The top mining hardware options include Bitmain Antminer KS5 Pro, Bitmain Antminer KS5, IceRiver KS5M, IceRiver KS5L, Antminer DR7 and many more.
Let us compare the two most prominent and most established mining companies selling their top mining hardware for an evaluation of the profitability each one of them provides.
It can be seen that Antminer KS5 Pro by BITMAIN is yielding higher returns to the miners which is $69.96 daily on consuming 3150 W of power, with an efficiency of 150 j/Th, marking a great performance in the Kaspa industry.
For IceRiver KS5M, the efficiency rate is 225.67 j/th on consuming 3400 W with 15 Th/s as the miner’s hash rate. The daily profits generated by a miner using IceRiver KS5M are $49.90, which is a significant profit one can make.
The statistics comparison above highlights how the profitability rate varies depending on the model’s efficiency, performance and attributes. However, the only thing that remains constant is the profits ratio which has been generated in considerable amounts, validating that Kaspa mining is indeed a profitable venture. All you require is to understand its basics and gain knowledge before you start mining with thorough research.
Financial Analysis of Kaspa Market
By market capitalization, Kaspa is presently ranked as the fifth proof-of-work digital asset. As of July 17, 2024, it has a market capitalization of $4.3 billion and an average 24-hour trading volume of about $52,151,059 million, witnessing all-time highs. Kaspa has a total of 24 Billion KAS supply roughly in circulation, while the total available supply has a maximum of 28.7 billion KAS tokens.
Marathon’s Move to Diversify with Kaspa
Marathon, a leading global platform deploying innovative technologies, started assessing Kaspa in May 2023 as a possible means of increasing revenue diversification while keeping its present infrastructure and digital asset computation know-how. The company started increasing its operations in September 2023, following the successful deployment of its first Kaspa ASICs.
Here is a detailed analysis of the historical data of Kaspa for the last 7 months depicting a change in its prices, volume and other attributes such as its highs and lows ranging from January 2024 to July 2024.
Based on the information given above in the blog, we believe you can understand how the profitability of Kaspa has taken a surge and shaken the entire industry with its growth over the past few years. It continues to stay a lucrative option in 2024 and is expected to go even higher in future, which reflects on its ability to grow more impeccably for an impressive market performance. The details mentioned above are based on the statistics as of the time when the blog was written, however, it can vary with time. Therefore, keep a keen eye on Kaspa and the emerging trends for making it a profitable venture, if planning for Kaspa mining.
How to calculate Kaspa Mining Profitability?
You can use profitability calculators available online and put attributes like hash rate, power consumption, and model name to evaluate Kaspa Mining’s profitability.
How much is the current difficulty level of mining Kapsa?
The current difficulty value of Kaspa is 99.7641M.
What are some essential tools to consider while mining Kaspa for profitability?
Bitcoin Antminer Joining mining pools, using hardware comparison charts/stats for decision-making, and energy efficiency tools to boost profitability.